Law Offices of Kelli J. Malcolm

Estate Planning

Protect your family, leave a legacy

Most people work hard their entire lives and then fail to protect their efforts and protect their legacy. By taking a few hours for estate planning, you can do more to protect your family than you did in decades of hard working. You spend your life trying to provide for your family and the last thing you would want to do is to have them unprotected in the case you became disabled or, worse, died. As the old adage goes: poor planning on your part should not create a crisis for others.

Estate Planning

Every working adult, over the age of 18 should consider estate planning. For many individuals estate planning should consist of creating:

will,

powers of attorney, and

a living will.

For others with failing health or symptoms of aging, there may be a concern about the ongoing ability to manage your own assets. In the event of your demise, you’ll want to let your family avoid probate, you want to transfer assets quickly after your death, or you want to care for a surviving pet or children. In these situations, a trust may be a more appropriate action. Despite popular belief, trusts are not reserved for the super wealthy. Trusts are wonderful tools for transferring assets, providing for family members with special needs, and even providing for pets. They can be useful in avoiding high estate taxes and probate fees, and even avoiding probate itself.

Begin the Estate Planning Process at the Law Offices of Kelli Malcolm

The Initial Consultation

Our process begins with a review of your assets and an understanding of how you wish to distribute them after your death. We will also discuss your spouse, children, grandchildren, and extended family. Then we ask questions to determine your values and wishes to identify what is important to you. We will help you evaluate your unique situation and analyze needs and potential problems, highlight what outcomes are likely if you do not act, and explain what options are available to you. After your initial appointment, our family law firm will be better able to offer you a fixed fee to draft all the documents necessary to execute your financial goals in keeping with the values and wishes of your family. Initial consultation charge is $150 which will be credited back to the total cost of your completed estate plan.

Execution of Documents

Based on your wishes and what is discussed in the initial consultation, we will draft the appropriate documents. Once they read the way you want them to, we will finalize and execute them. Your living will and durable powers of attorney may become legally active prior to your death in the event that you are incapacitated or able to verbally communicate your wishes. This will help prevent your family from having to guess and will allow you to speak for yourself when you have no voice. Your will and trust will become active in the event of your death and will communicate your posthumous wishes and ensure your legacy is carried on the way you want.

Estate Planning Glossary of Terms

Standard Will – A standard and traditional Will only become active upon the death of the testator. A standard Will bequeaths possessions and assets of the estate pursuant to the decedent’s wishes and requests in their will. In simple terms, a Will denotes what will be left to whom in the event of your death.

Living Will – A living Will is also known as an advance healthcare directive. It applies when the testator becomes incapacitated or legally unable to make healthcare decisions for themselves.

Trust – A legal contract where the trustee(s) has control over assets, money, stocks and/or property.

Bringing Law to the People

“You can talk all you want about having a clear purpose and strategy for your life, but ultimately this means nothing if you are not investing the resources you have in a way that is consistent with your strategy. In the end, a strategy is nothing but good intentions unless it’s effectively implemented.”
― Clayton M. Christensen, How Will You Measure Your Life?

*Initial consultation costs are $150 for the initial appointment which is applied to the fixed fee rate if you enter into a fee agreement.

For all of your estate planning needs including general information, Wills, powers of attorney, and trusts, contact the legal team at the Law Offices of Kelli J. Malcolm today.